• Eni signed a 25-year hydrocarbon production participation contract with PDVSA to develop Venezuela’s onshore Junín 5 heavy-oil field.
• The deal makes Eni the exclusive operator with full technical, financial, commercial control under a new regime introduced in January 2026.
• Junín 5 holds 35 billion barrels of certified oil in place. Current output is about 12,000 barrels per day.
• The contract completes a transition from the Petrojunín joint venture structure, previously held 40% by Eni, 60% by PDVSA.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Eni S.p.A. published the original content used to generate this news brief on September 02, 2026, and is solely responsible for the information contained therein.